The Democratic People's Republicof Korea (DPRK) and South Korea held a meeting on Thursday and Friday to discuss the construction of the Kaesong Industrial Zone,a special economic zone in the DPRK.

It was the second meeting by the inter-Korean Panel for the Construction of the Kaesong Industrial Zone. The meeting focused on issues such as bank accounts, electricity, communications, water and waste disposal, customs and quarantine so as to facilitate the development of the zone.

"After the talks on account settlements between the Foreign Trade Bank of the north and the Import and Export Bank of the south, an agreement was adopted by both sides," the official Korean Central News Agency (KCNA) reported.

"The agreement, which deals in detail with technical issues such as the opening of an account with a bank, procedures and methods of monetary settlements, its effectuation and renewal, provides a guarantee for trade between the north and the south," added the KCNA.

Source:Xinhua